1.0) GBP- Bank of England Monetary Policy Committee Meeting Minutes
Wed., Feb. 23, 4:30 am, ET.
high inflation and the threat of economic slowdown as a result of the U.K. government’s massive spending cuts create a difficult situation for the Bank of England policy makers. But we expect that the interest rate shall be maintained.
However, if more policy makers have joined the camp of the two “rate hawks” Andrew Sentance and Martin Weale, the market could continue to price expectations for an interest rate increase in the near future.
We suspect the odds favor some near term disappointment and thus a GBP pullback unless the other UK events mentioned below or overall risk appetite spur new optimism and keep rate hike hopes elevated.
2.0) USD- U.S. Existing Home Sales,
Wed., Feb. 23, 10:00 am, ET.
the main gauge of the condition of the U.S. housing market measuring the number of closed sales of previously constructed homes, condominiums and co-ops . the sales of existing homes could also inch higher to 5.3 M in January from 5.28 M in December.
Wed., Feb. 23, 4:30 am, ET.
high inflation and the threat of economic slowdown as a result of the U.K. government’s massive spending cuts create a difficult situation for the Bank of England policy makers. But we expect that the interest rate shall be maintained.
However, if more policy makers have joined the camp of the two “rate hawks” Andrew Sentance and Martin Weale, the market could continue to price expectations for an interest rate increase in the near future.
We suspect the odds favor some near term disappointment and thus a GBP pullback unless the other UK events mentioned below or overall risk appetite spur new optimism and keep rate hike hopes elevated.
2.0) USD- U.S. Existing Home Sales,
Wed., Feb. 23, 10:00 am, ET.
the main gauge of the condition of the U.S. housing market measuring the number of closed sales of previously constructed homes, condominiums and co-ops . the sales of existing homes could also inch higher to 5.3 M in January from 5.28 M in December.
For the past week the EURUSD trend was higher despite all the bad EUR news (the pair followed falling USD short term rates relative to those of the EUR traders, so assume more uptrend and that traders should do the opposite in the near term and go long the above instruments until we see evidence of a trend reversal lower for the EUR. Binary option traders maintain bias to calls on the EUR pairs and EU stocks and indexes until we see evidence of a trend change.
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